Rhode Island 2026 Session Status: In Committee Bipartisan · 8 D · 1 I · 1 R cosponsors

HB 7397 — AN ACT RELATING TO TAXATION -- BUSINESS CORPORATION TAX

Last action — 05/07/2026 Committee recommended measure be held for further study

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  1. ✓
    Introduced
  2. 2
    In Committee
  3. 3
    Passed House
  4. 4
    Passed Senate
  5. 5
    To Executive
  6. 6
    Enacted

This bill is in committee in the House. Introduced January 28, 2026. It must pass committee before a floor vote.

Next likely step: a committee vote, then a floor vote in the House.

Prognosis

Advancing 42% · moderate confidence

Where this bill stands today.

Odds of enactment

Low

How often bills like it became law.

  • In Committee

    Current position in the legislative process.

  • 10 sponsors

    10 primary, 0 co-sponsors signed on.

  • Bipartisan support

    Sponsored across 3 parties (8 D · 1 I · 1 R) — cross-party backing.

Prognosis reads this bill's own signals — stage, sponsorship breadth, committee status, recorded votes and cross-state momentum. Odds come from a model trained on which bills have become law.

In plain language

Repeals the corporation minimum tax in Rhode Island.

This bill aims to eliminate the minimum tax that corporations must pay in Rhode Island. If passed, corporations will no longer have to pay a set minimum amount, reflecting a change in taxation policy.

Summary

Repeals the corporation minimum tax.

Bill Text

How this bill changes current law

1 change Share ↗

Compared against the R.I. General Laws as published AI-generated reading aid — verify against the official bill.

This bill eliminates the minimum tax requirement for corporations under the Rhode Island Business Corporation Tax.

  • R.I. Gen. Laws § 44-11-2(e)

    Minimum tax. The tax imposed upon any corporation under this section, including a small business corporation having an election in effect under subchapter S, 26 U.S.C. § 1361 et seq., shall not be less than four hundred fifty dollars ($450). For tax years beginning on or after January 1, 2017, the tax imposed shall not be less than four hundred dollars ($400).

    This change removes the requirement for a minimum tax imposed on corporations.

Action History

  1. 05/07/2026 Committee recommended measure be held for further study

  2. 05/01/2026 Scheduled for hearing and/or consideration (05/07/2026)

  3. 01/28/2026 Introduced, referred to House Finance

Sponsors

Sponsorship breakdown

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10 sponsors · 0 co-sponsors · 104 not signed on

Sponsors (10)

Co-sponsors (0)

None.

Not signed on (104)

104 members have not signed on to this bill.

Show all 104 →

"Not signed on" means a member has not sponsored or co-sponsored this bill — it does not imply opposition. Members flagged Voted No have a recorded No vote on this bill.

Whip count is in markup. Polling the chamber and every recorded vote this session. Only the first open is slow. It’s instant for you after this. Calling the roll · Tallying · Engrossing

Subjects

taxation
Cross-referencing the record. Reading this bill against every other bill in the corpus by meaning, not keywords. Only the first open is slow. It’s instant for you after this. Matching · Ranking · Engrossing

Frequently asked questions

What does HB 7397 do?
Repeals the corporation minimum tax.
Who sponsors HB 7397?
HB 7397 is sponsored by Jon D. Brien (Independent), Michael W. Chippendale (Republican), Carol Hagan McEntee (Democratic), Robert D. Phillips (Democratic), Patricia A. Serpa (Democratic), Charlene M. Lima (Democratic), Gregory J. Costantino (Democratic), Joseph J. Solomon, Jr. (Democratic), Stephen M. Casey (Democratic), and Mary Ann Shallcross Smith (Democratic).
What is the current status of HB 7397?
This bill is in committee in the House. Introduced January 28, 2026. It must pass committee before a floor vote.
Where can I track HB 7397?
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Last checked for changes 2 months ago · updated continuously

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